Mitsui Chemicals Invests in U.S.-Based Personal Rapid Transit Developer Glydways
2024.05.30
Mitsui Chemicals, Inc.
Mitsui Chemicals, Inc. (Tokyo: 4183; President & CEO: HASHIMOTO Osamu) today announced that it has invested in Glydways, Inc. (California, U.S.; CEO: Gokul Hemmady).
■ Overview of Glydways
Glydways is a startup developing an on-demand personal rapid transit (PRT) system, which sees small, self-driving electric vehicles similar in size to kei cars travel along dedicated lanes.
By having four-seater vehicles called Glydcars travel along dedicated lanes 1.7 meters wide – less than half the width of a regular traffic lane – more users can travel sustainably, in comfort and for a reasonable price. Further, the system both has net-zero CO2 emissions and mitigates traffic congestion, helping to minimize climate change.
Development of the door opening/closing system and the car’s entire cabin area, including the interior, is being supported at Mitsui Chemicals Group subsidiary ARRK Engineering GmbH
Company | Glydways, Inc. |
|---|---|
Location | South San Francisco, California, U.S. |
CEO | Gokul Hemmady |
Established | 2016 |
Business | Development of a personal rapid transit (PRT) system |
URL |
■ Purpose of the Investment
Mitsui Chemicals’ VISION 2030 Long-Term Business Plan includes the basic strategies of pursuing business portfolio transformation, building solutions-based business models and bolstering circular economy initiatives. The investment in Glydways will enable a wide range of support for a new transport system that makes major contributions to lessening traffic congestion and reducing CO2 emissions – not only by providing the company’s unique materials, but also by aiding in everything from development and small lot production to post-launch maintenance and recycling. Mitsui Chemicals hopes through this investment to help solve social issues through both innovation and the creation of new value for customers.
■ References
Mitsui Chemicals website: https://jp.mitsuichemicals.com/en/index.htm
Glydways website: https://www.glydways.com/
